[cool_dudeindian]

I bought the home in Nov 2007 for $210000. And i got two mortgages , One for 75% and other for 25%.I have high interest rate on 2nd Mortgage, 9.75%. I tried to negotiate the APR on 2nd mortgage, The Bank Says ,My House price went down to $175000, And they cant do anything ? Any idea how i can negotiate ?POJO, My Monthly Mortgage is under 25% of my Salary and almost equal to a month of rent. You need to Blame nutcase Mortgage mangers who offer million dollar mortgage to a 60K Salaried. I am just tying to get my monthly payments down.

[Loanmodificationhelp]

the 9.75 is a pretty high but I have seen much worse than that rate. Please advise who the bank is so we can get more info to you. You DTI is not a factor with this lender apparently as with most. Your issue is being upside down. Fannie had a rule that would not let you go above 125% LTV but that rules has gone out the window and there are toxic modification happening now. You need to resubmit and talk to the right players that can make a business decision. Looks as if you do not need a loan modification you just want one. Those are harder to get through.